- Cannibble Food-Tech (CSE:PLCN) opened a robotics and artificial intelligence (AI) division focused on the food and hospitality industry anchored by a new three-year partnership with AIBotics (OTC:AIBT), a specialist in AI-powered service robots and automation software
- Cannibble develops better-for-you food and beverage products enriched with alternative proteins
- Cannibble stock has given back 16.67 per cent year-over-year
Cannibble Food-Tech (CSE:PLCN) opened a robotics and artificial intelligence (AI) division focused on the food and hospitality industry anchored by a new three-year partnership with AIBotics (OTC:AIBT), a specialist in AI-powered service robots and automation software.
The division will serve as a testing ground for the commercial potential of robots and AI in service-oriented environments, including the food, hospitality and security industries.
Cannibble and AIBotics will initially target the Israeli market, leveraging the former’s industry relationships and commercial contacts, with potential expansions into North America, Latin America and the Middle East, subject to definitive agreements.
The partners will serve as reciprocal exclusive distributors for each other’s robotic products and services, with Cannibble expected to support the distribution in Israel of select robots by KEENON Robotics, which operates under an existing deal with AIBotics, including:
- The DinerBot series (T8, T9, T10, T11).
- The ButlerBot W3.
- The KleenBot C30 and C40.
Cannibble and AIBotics will now turn their attention to market assessment, customer engagement and pilot opportunities, keen to set a strong foundation for future revenue and garnering market share in Israel’s US$13 billion food service and hospitality industry, which, according to AIBotics’ news release on the partnership, shines bright as a leading light in the global service robots market, the latter expected to compound at 20 per cent annually, more than quadrupling to US$131.8 billion by 2034.
About Cannibble Food-Tech
Cannibble develops better-for-you food and beverage products enriched with alternative proteins.
Cannibble stock (CSE:PLCN) is up by 66.67 per cent on the news trading for C$0.025 as of 10:00 am ET. The stock has given back 16.67 per cent year-over-year.
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